Cargojet Income Fund, Canada's leading domestic premium overnight air cargo network operator, announced today that it has sold its 55 per cent interest in the Cargojet Regional Partnership to SkyLink Express Inc. for a CDN$3.2 million (US$3.1 million) promissory note secured by aircraft owned by SL Express. SL Express previously held the other 45 per cent interest in the partnership, and will operate the regional business under its own trade name, Skylink Express. Specializing in time-sensitive … [Read more...] about Cargojet sells freighter business to SkyLink Express
Courier & Mail
Chinese corruption investigation claims senior official
A senior Chinese aviation official threw himself in front of a railway train this week, the Xinhua news agency said, attributing his suicide to ongoing corruption investigations that have shaken the Civil Aviation Administration of China (CAAC). Liu Yajun, the 50-year-old head of CAAC's Central and Southern Regional Administration, killed himself in late-June, just months after taking office in February, Xinhua said, citing airport sources. Since the start of the year, four senior aviation … [Read more...] about Chinese corruption investigation claims senior official
TSA will likely not meet 100% screening mandate
The Transportation Security Administration (TSA) will miss a congressionally mandated deadline to screen 100 per cent of US-bound air cargo by the first of August, US lawmakers noted recently. In a recent report, the US Government Accountability Office (GAO) also said TSA relies too heavily on a voluntary shipping programme to ensure the compliance of private companies in the 100 per cent screening requirement and recommended that TSA develop contingency plans to address shortfalls in voluntary … [Read more...] about TSA will likely not meet 100% screening mandate
Computer giant Dell switching from air to ocean
Computer manufacturer Dell has shaken the air cargo industry with the news that it aims to be using ocean transport to ship 70 per cent of its consumer notebook products by 2013 at the expense of air cargo. By the end of this year, Dell said, it will have shipped 3 million notebooks by sea, which represents around 20 per cent of its output. Last year, it used ocean services to transport just 5 per cent of its consumer volumes. … [Read more...] about Computer giant Dell switching from air to ocean
FedEx ups capacity on Singapore-Memphis lane
FedEx Express has launched its fourth new B777F on flights from Singapore to the FedEx Super Hub in Memphis, Tennessee, via Osaka, Japan, replacing an MD-11F aircraft. The service will operate five times a week in response to what FedEx said was an "anticipated increase in cargo transportation demand in Singapore." Singapore was the US' tenth largest export market in the first three months of 2010, up from 11th place in the first three months of 2009, with exports to Singapore rising 34.6 per … [Read more...] about FedEx ups capacity on Singapore-Memphis lane
Philippine president appoints new Customs head
Newly elected Philippine President Benigno Aquino III has appointed businessman Angelito Alvarez as the new chief of the Bureau of Customs (BOC). Alvarez is the president and chief operating officer of Airfreight 2100 Inc., the local licensee of US-based logistics services company Federal Express Corp. Aquino earlier said that the government will have to improve tax collection and curb smuggling and corruption to boost the country's revenues and plug the widening deficit. For the months of … [Read more...] about Philippine president appoints new Customs head